For benefit of my readers, i have prepared list of situations where stay of demand will be definitely granted. Definitely because below instances are covered under one or the other judicial precedents;-
a.Where the assessed income far exceeds returned income so as to make the demand arbitrary(Soul vs DCIT; Delhi HC), or
b.Issue Appealed against stands concluded in your favour by a higher forum(MIDC vs. CIT; Bombay HC), or
c.Where the order is passed without giving reasonable opportunity of being heard(As per Law of natural justice), or
d.Where you prove to the A.O that demand order will cause severe financial hardship on running of business. Hence demand shall be stayed till disposal of appeal by CIT(A)(KEC Int’l Limited vs. B.R Balakrishnan)
